December 22

Traded the old company truck for a new truck issuing check number 30106 to complete the transaction. The old truck cost $3800 and on Sept. 30 ( the end of the quarter) had depreciated $2200. Straight line Depreciation on the old truck is $40 per month. The new truck listed for $19950 and Auburn auto sales allowed a $3000 trade in allowance on the purchase of the new vehicle. This trade has no commercial and no gain or loss will be recognized on this transaction. ???